Contractors must tackle debt to avoid it spiralling out of control, a financial expert has advised.

Justin Modray of candidmoney.com said that debt can become out of control if it is not properly resolved.

He advised that contractors and other professionals attempt to tackle the most expensive debt first, in order to reduce the damage large amounts of interest can cause.

"If you're able to get a zero per cent introductory credit card deal then transferring the balance from a more expensive card will give you some breathing space," added Mr Modray. However, he also warned that a high interest rate could take effect once the zero interest deal had ended.

Meanwhile, research by the Consumer Credit Counselling Service (CCCS) reveals London and Northern Ireland are the locations with the most debt in the UK.

Northern Ireland experienced the most bankruptcy recommendations from the CCCS, with 12.9 per cent of clients in the area being advised in this manner.

London was seen to be the region most in need of debt advice, with 24.3 people per every 10,000 receiving counselling.